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DAMASCUS -- DP World has signed a 30-year concession agreement with Syria's General Authority for Land and Sea Ports to develop and operate the Port of Tartus.

As part of the agreement, DP World will invest $800 million over the duration of the concession to upgrade the port's infrastructure and position it as a critical regional trade hub connecting Southern Europe, the Middle East and North Africa.

The agreement was signed in Damascus in the presence of Ahmed Al-Sharaa, President of the Syrian Arab Republic, by Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, and Qutaiba Ahmed Badawi, Chairman of General Authority for Land and Sea Ports.

Following over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria's economic reintegration.

Structured as a Build-Operate-Transfer (BOT) model and fully owned by DP World, the project will include new infrastructure, advanced cargo-handling equipment, and digital systems to improve efficiency across the port's container and general cargo terminals.

Sultan Ahmed bin Sulayem, chairman and Group CEO of DP World, said, "This agreement reflects our long-term commitment to enabling global trade and creating resilient supply chains. We see strong potential in Tartus to serve as a vital trade gateway and look forward to strengthening regional connectivity and economic opportunity through this investment. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region."

Qutaiba Ahmed Badawi, chairman of Syria's General Authority for Land and Sea Ports, said, "This agreement marks an important step forward for the Port of Tartus and Syria's maritime sector. Partnering with DP World will allow us to modernise and strengthen the efficiency of our trade infrastructure as we continue to rebuild key trade lanes, support the national economy and provide more opportunities for the Syrian people. The agreement reflects our shared vision to transform Tartus into a strategic gateway linking Syria with regional and international markets, and it will pave the way for sustainable growth for years to come."

Located on Syria's Mediterranean coast, Tartus is the country's second-largest port and a key maritime gateway to trade routes across Europe, the Levant and North Africa. Its strategic position enhances regional connectivity, complementing existing routes through the Bosporus and Suez. The redevelopment will enable Tartus to handle general cargo, containers, breakbulk, and roll-on/roll-off traffic, expanding Syria's trade potential as the country continues to rebuild.

DP World will also explore opportunities to develop free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders, supporting broader economic diversification and trade facilitation efforts.

With a presence in over 75 countries and 9.2 percent of global container traffic flowing through its ports and terminals, DP World brings over four decades of experience in developing logistics infrastructure around the world. The Tartus project adds to its growing portfolio and complements existing operations in the Middle East.

WAM